Taylor Frigon Capital Management LLC Cuts Position in Glaukos Corporation $GKOS

Taylor Frigon Capital Management LLC decreased its position in Glaukos Corporation (NYSE:GKOS) by 17.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,445 shares of the medical instruments supplier’s stock after selling 4,980 shares during the quarter. Glaukos accounts for approximately 1.4% of Taylor Frigon Capital Management LLC’s portfolio, making the stock its 12th largest position. Taylor Frigon Capital Management LLC’s holdings in Glaukos were worth $2,524,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in GKOS. Wellington Management Group LLP lifted its stake in Glaukos by 10.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock worth $292,004,000 after acquiring an additional 336,266 shares in the last quarter. Primecap Management Co. CA boosted its holdings in Glaukos by 49.8% during the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock valued at $381,289,000 after acquiring an additional 1,123,140 shares during the period. Janus Henderson Group PLC grew its position in Glaukos by 183.4% in the 4th quarter. Janus Henderson Group PLC now owns 3,018,787 shares of the medical instruments supplier’s stock valued at $340,855,000 after acquiring an additional 1,953,578 shares in the last quarter. State Street Corp grew its position in Glaukos by 0.9% in the 4th quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock valued at $239,640,000 after acquiring an additional 18,040 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Glaukos by 3.5% during the second quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier’s stock worth $206,503,000 after purchasing an additional 68,497 shares during the period. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GKOS has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of Glaukos from $135.00 to $138.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price objective on shares of Glaukos from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. William Blair reaffirmed an “outperform” rating on shares of Glaukos in a research note on Tuesday, May 26th. Stifel Nicolaus set a $170.00 target price on shares of Glaukos in a report on Thursday, April 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Glaukos in a research report on Tuesday, April 21st. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $151.62.

Glaukos Stock Performance

Shares of Glaukos stock opened at $152.89 on Thursday. Glaukos Corporation has a one year low of $73.16 and a one year high of $154.61. The company has a market cap of $8.98 billion, a PE ratio of -46.61 and a beta of 0.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.73 and a current ratio of 5.43. The business has a 50-day simple moving average of $131.05 and a 200-day simple moving average of $120.19.

Glaukos (NYSE:GKOS) last released its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. The firm had revenue of $150.57 million for the quarter, compared to analyst estimates of $137.00 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The business’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.22) earnings per share. On average, equities research analysts forecast that Glaukos Corporation will post -0.57 EPS for the current fiscal year.

Insider Activity

In other Glaukos news, CFO Alex R. Thurman sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $140.00, for a total value of $1,400,000.00. Following the sale, the chief financial officer directly owned 43,681 shares of the company’s stock, valued at approximately $6,115,340. This represents a 18.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leana Wen sold 1,700 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $143.35, for a total transaction of $243,695.00. Following the completion of the sale, the director owned 19,739 shares in the company, valued at $2,829,585.65. The trade was a 7.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 51,273 shares of company stock worth $7,332,003. Insiders own 5.90% of the company’s stock.

About Glaukos

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.